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Dec 31, 2012
12/12
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it would maphase in tax hikes or the years and prioritize spending cuts. he says he's frustrated and tried to do something. >> it was crossing the wires it's more than frustration it sounds like desperation at this point as they are losing hope. the chained cpi the social security adjustment you were talking about basically changes the way they configure the cost of living and would make those benefits smaller checks. does it sound like republicans are willing to let that go? >> seems like they are willing to let that go. senator mcconnell says no stumbling block should cutff this deal. when the democrats protested they said fine take it off the table but it talks like reed and the republican leader got stuck. they called in the bullpen. called in a senate colleague vice president joe biden. >> willing to work with whoev er can help. it remain as possible sticking point. appears to be a willingness and interest or the courage to close the deal. >> top on the republican side sound hopeful because they believe vice president biden can cut a deal but it may n
it would maphase in tax hikes or the years and prioritize spending cuts. he says he's frustrated and tried to do something. >> it was crossing the wires it's more than frustration it sounds like desperation at this point as they are losing hope. the chained cpi the social security adjustment you were talking about basically changes the way they configure the cost of living and would make those benefits smaller checks. does it sound like republicans are willing to let that go? >>...
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Dec 30, 2012
12/12
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what are those tax increases? bush tax cuts expire at midnight tomorrow night and you'll wake up the next morning and face a higher tax rate unless congress acts. there's also a possibility of a $108 billion in spending cuts. this is largely the defense department as we talked about and also money that ends up in people's pockets. there's an economic impact. >> i misspoke, i said tuesday at midnight. tomorrow at midnight. >> yes, december 31. >> the money is personal for people. you start to talk about budging a household. for the average family? >> 3500 bucks is the income tax hit. >> above what they're paying. >> and additional 3500 for median income. that goes up dramatically the wealthier you are. tens of thousands of dollars more. you could on the hook for a real hit. >> the argument is the wealthy won't feel it but they won't spend it either. >> that's the point. a lot of those people paying higher taxes own small businesses and will opt not to hire and it will ripple through the economy. >> it hurts when i
what are those tax increases? bush tax cuts expire at midnight tomorrow night and you'll wake up the next morning and face a higher tax rate unless congress acts. there's also a possibility of a $108 billion in spending cuts. this is largely the defense department as we talked about and also money that ends up in people's pockets. there's an economic impact. >> i misspoke, i said tuesday at midnight. tomorrow at midnight. >> yes, december 31. >> the money is personal for...
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Dec 30, 2012
12/12
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katherine, why was this tax overturned? >> it was overturned because the court said it failed to rec recognize equality before public burden. what this means is it has been applied to individuals rather than households. the court knows this top rate would have applied to a married couple, for example, if one member was in that upper income bracket. well, if it turned just under, then the 75% rate would not apply. in essence, this was thrown out on a technicality. if was a poorly worded law that just didn't pass the constitutional barrier. >> you know, it is kind of confusing. the president actually campaigned on this75% tax. what happened, and will he try to get it reinstated? >> you are quite right. he made this a key platform of his manifesto. he has gone all out on this, and he even dressed up the tax as an act that the way france's rich could help during harsh economic times. he has not backed down and in fact in the last few hours the officials have said the law will be redrafted to conform with the court ruling and wi
katherine, why was this tax overturned? >> it was overturned because the court said it failed to rec recognize equality before public burden. what this means is it has been applied to individuals rather than households. the court knows this top rate would have applied to a married couple, for example, if one member was in that upper income bracket. well, if it turned just under, then the 75% rate would not apply. in essence, this was thrown out on a technicality. if was a poorly worded...
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Jan 1, 2013
01/13
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new years and higher taxes. see you shortly. >> yippee. >> if they are still negotiating at 11:00 p.m. eastern time. we may hear the fiscal cliff come out oof bill hemmer and megyn kelly's mouth. thank you. great stuff. don't miss bill and megyn tonight on the all american new year's eve right here on fox news channel. 11:00 p.m. eastern time. believe me, it is well worth your time it is great fun out there in times square. of course, you might want to drink your champagne responsibly. at least if you are planning to get behind the wheel tonight. we'll break down the facts and the myths behind drinking and driving next. plus, a big day of shakeups in the national football league where teams have sacked not one but seven head coaches. black monday at the nfl as "the fox report" continues on this new year's eve. ♪ [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the conn
new years and higher taxes. see you shortly. >> yippee. >> if they are still negotiating at 11:00 p.m. eastern time. we may hear the fiscal cliff come out oof bill hemmer and megyn kelly's mouth. thank you. great stuff. don't miss bill and megyn tonight on the all american new year's eve right here on fox news channel. 11:00 p.m. eastern time. believe me, it is well worth your time it is great fun out there in times square. of course, you might want to drink your champagne...
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Dec 27, 2012
12/12
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pay in taxes. below 10,000 they will pay an average of about $300 more. look down the chart a bit. those who make between 40 and 50,000 they will have to pay an extra $1,700 more. looking at the next set of numbers for wage earners, 50 to 75,000. they will have to find an extra $2,300 to send to washington. and if you managed to make over $200,000, if you go over that income mark, it will be a big jump up. you have to send a check to uncle sam for, on average, about 14,000 additional dollars. the highers wage earns 500,000 to a million they will pay an average of $34,000 more. over a million dollars, the irs will want 216,000 additional dollars from you on top of what you already pay in taxes. the upshot of all of this; >> you will have less money to spend in a very difficult economy with very little clarity on how the economy is going to pick up in the near future. even in the long run. we are entering into a very difficult economic environment, unfortunately. >> a wealth manager says need to aust
pay in taxes. below 10,000 they will pay an average of about $300 more. look down the chart a bit. those who make between 40 and 50,000 they will have to pay an extra $1,700 more. looking at the next set of numbers for wage earners, 50 to 75,000. they will have to find an extra $2,300 to send to washington. and if you managed to make over $200,000, if you go over that income mark, it will be a big jump up. you have to send a check to uncle sam for, on average, about 14,000 additional dollars....
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Dec 29, 2012
12/12
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higher taxes, capital gain taxes because we don't have any clear picture yet on what reid and mcconnell might be crafting. >> harris: wow. people getting out of market suddenly. which companies stand to lose if that happens? >> this is a really interesting list of companies that was actually compiled by goldman sachs. we were reporting this today. these are companies that get 50% of their sales, or more, from the u.s. government. deals of the government. lockheed martin, granted construction. grumed. saint jude medical. motorola, waste manage: these are companies that not only have big contracts with the government but employ a lot of people who should these contracts not be renewed to the extent they are right now. those employees could be facing an uncertain future. >> harris: wow, at a time when we're still trying to generate enough jobs to break even at the end of the month. >> that's right. >> harris: adam shapiro, thank you. three police officers recovering from a rampage that played out inside their police station. it happened in southern new jersey. they say a man police had arr
higher taxes, capital gain taxes because we don't have any clear picture yet on what reid and mcconnell might be crafting. >> harris: wow. people getting out of market suddenly. which companies stand to lose if that happens? >> this is a really interesting list of companies that was actually compiled by goldman sachs. we were reporting this today. these are companies that get 50% of their sales, or more, from the u.s. government. deals of the government. lockheed martin, granted...
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Dec 25, 2012
12/12
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ran on that platform 250 no taxes below but taxes above. he won 60% of the voters said they were for it in the exit polls including some republicans. >> independent senator joe lieberman says he believes for the first time in the entire debate that we may be going off the fiscal cliff. he and others have said all along that there would be this fighting but right up to the deadline. they have finally come up with some sort of a deal. lieberman and others on the hill saying they think we may in fact go off the cliff. rattle the markets as you suggested, jamie. lieberman also believes the senate will be in session on new year's eve. going right up against the end of the year deadline to try to work this out, jamie. >> jamie: if any news breaks i know you will bring it to us. live from honolulu. washington is not the only one thinking about the fiscal cliff. it turns out that the concerns about it or affecting how much people are spending this holiday season. analysts saying overall sales are down from last year. it's not just the economy thoug
ran on that platform 250 no taxes below but taxes above. he won 60% of the voters said they were for it in the exit polls including some republicans. >> independent senator joe lieberman says he believes for the first time in the entire debate that we may be going off the fiscal cliff. he and others have said all along that there would be this fighting but right up to the deadline. they have finally come up with some sort of a deal. lieberman and others on the hill saying they think we...